- Okra Solar has raised $3 million to increase the distribution of its solar-based hardware and software solutions.
- It plans to electrify over 290,000 off-grid homes in Nigeria in the next three years while expanding its operations in Haiti and other countries.
Australian-founded technology company Okra Solar has received a financial boost of $3 million to scale up the distribution of IoT-enabled mesh grids in developing countries.
The funding was led by Singapore-based technology fund and advisory group SDGx, Schneider Electric Energy Access, Autodesk Foundation, Explorer Investments and Didendum. Okra is also opening its Series A round to raise a further $6 million to help finance its expansion into other countries.
The company, which began operations in 2016, has developed an Internet-of-Things (IoT) and artificial intelligence-enabled mesh grid which shares power through an interconnected network of homes. The plug-and-play solar home system includes a solar panel, battery and a smart device. In addition, a cloud-based system monitors usage and required maintenance while allowing for remote control.
Currently, the company is focused on the Philippines, Haiti, Cambodia and Nigeria, home to the world’s largest unelectrified population, totalling approximately 80 million people.
SDGx partner and chief impact officer Zarmeen Parvi said Okra Solar ticked all the boxes for the technology fund.